Allianz’s €368 Million Acquisition of Stake in Galp Gas Natural Distribución

Uría Menéndez Proença de Carvalho assisted Allianz, while Garrigues Portugual advised Galp in the transaction.

Galp has reached an agreement with Allianz Capital Partners for the sale of 75.01% of its current 77.5% stake in Galp Gas Natural Distribución for €368 million, according to a statement.

The transaction is subject to relevant regulations and the consent of third parties, with the expectation that the transaction will be closed during the first quarter of 2021.

Allianz Capital Partners is one of Allianz Group’s asset managers for alternative equity investments and is part of Allianz Global Investors. With offices in Munich, London, Luxembourg, New York and Singapore, Allianz Capital Partners manages more than 34 billion euros of alternative assets on behalf of Allianz Group and institutional investors.

Galp Energia, SGPS, S.A. is a Portuguese corporation which consists of more than 100 companies engaged in activities such as natural gas supply, regasification, transport, storage, and distribution; petroleum products exploration, production, refining, trading, logistics and retailing; co-generation and renewable energy.

Uría Menéndez Proença de Carvalho assisted the buyer, Allianz, with a team led by M&A partner Catarina Tavares Loureiro (Picture), and involved Public Law counsel João Louro e Costa, Labour counsel André Pestana Nascimento, Antitrust counsel Tânia Luísa Faria, Financing senior associate Miguel Rodrigues Leal, M&A associate Luís Soares de Sousa, Labour junior associate Susana Bradford Ferreira, and M&A junior associate Marta Sampaio Pinto.

Garrigues Portugual advised the seller, Galp, with a team led by partner Lino Torgal, and involved counsel Paulo Mendonça Duarte and senior associate Teresa Moreira dos Santos.

Involved fees earner: Paulo Mendonça Duarte – Garrigues; Teresa Moreira dos Santos – Garrigues; Lino Torgal – Garrigues; Susana Bradford Ferreira – Uria Menendez; Tânia Luísa Faria – Uria Menendez; João Louro e Costa – Uria Menendez; André Pestana Nascimento – Uria Menendez; Miguel Rodrigues Leal – Uria Menendez; Marta Sampaio Pinto – Uria Menendez; Luís Soares de Sousa – Uria Menendez; Catarina Tavares Loureiro – Uria Menendez;

Law Firms: Garrigues; Uria Menendez;

Clients: Allianz Capital Partners; Galp Energia;

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